Pakistan Economy_Jan'24 CPI Expecting headline inflation of 28.6%YoY, (AKD Daily, Jan 30, 2024)
Pakistan Economy_Jan’24 CPI Expecting headline inflation of 28.6%YoY
- Headline CPI inflation is expected to clock in at 28.63%YoY/1.83%MoM for the month of Jan’24, compared to the 29.66%YoY/0.82%MoM reported in the earlier month— marking another monthly increase in part due to higher electricity prices and persistent elevation in food prices.
- As per news reports, prices of chickens, eggs and tomatoes have escalated majorly due to non-enforcement of official price lists, resulting in unchecked escalation during the winter months.
- While near-term risks on currency stability and the potential for new taxation measures to meet fiscal targets may have subsided, we still expect inflation to average at 22.27% during 2HFY24, subsequently ending the full year average at 25.53%.
- Further adjustments in energy and food prices (high demand periods in April’24) will keep upcoming inflation readings to be critical and will be key in shaping the future direction of monetary policy.
AKD Securities Ltd. is one of the leading securities firm in Pakistan, providing a comprehensive range of investor focused services, including equity brokerage, economic and securities research, investment banking and financial advisory services. AKD Securities accounts for more than 6% of the average daily value of the Karachi Stock Exchange. AKD Securities was the first brokerage house to launch an online trading platform in Pakistan in November 2002 and now has the largest market share with over 6000 customers. This has helped diversify and expand the retail investor base in the country and ushered in a whole new universe of investors to the stock market.
AKD Securities Ltd. caters to a diversified group of domestic and international institutional investors, high net worth individuals and upscale retail clients, including expatriate Pakistanis. With high quality research, unparalleled execution and distribution capability for both regular and large block trades, AKD Securities Ltd. has earned an outstanding reputation in the Pakistani securities industry.Outside of commercial banks, AKD Securities Ltd. is one of the biggest capital market firms in the country. AKD Securities is the leader in raising and providing risk capital in underwriting, market making and mergers and acquisitions in Pakistan. Good corporate governance and professionalism are emphasized throughout the firm and AKD Securities Ltd. is amongst the very few companies to have introduced a firm-wide comprehensive CODE of ETHICS, overseen by an independent compliance manager.Ultimately, our success is based on the quality of service we provide to our customers and the trust and confidence reposed in us by them. Our focus, therefore, remains on customer satisfaction at all levels in the company.
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